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【Bitcoin hash rate experiences a 'major earthquake'? Rumors from Xinjiang attract market attention!🚨】
Last week, the total network hash rate of Bitcoin dropped sharply by 17.25%, causing a stir in the crypto community. The current hash rate is reported at 988.49 EH/s, significantly down from the same period last week. This fluctuation coincides with rumors of tightening mining regulations in Xinjiang—reports indicate that a local mine has had over 200,000 mining machines confiscated, though this has not been officially confirmed, it has already triggered a chain reaction.
Last month, Reuters reported that mining activities were 'reviving,' pushing the domestic hash rate share back up to 15-20% of the global total. If regulation tightens again now, it may indicate that China's crackdown on virtual currency mining is still ongoing. While short-term fluctuations in hash rate are common, such a drastic drop combined with regional rumors still reflects the Bitcoin network's sensitivity to policy changes.
⚠️ The drop in hash rate may affect the network's block generation speed and miners' earnings, but in the long run, the migration of hash rate is also a manifestation of the decentralization characteristic of the Bitcoin network. The market is closely monitoring subsequent regulatory trends and the recovery of hash rate.
